Networking startup Nile raises $175 million to challenge Cisco

Nile, a networking startup co-founded by former Cisco Systems executives John Chambers and Pankaj Patel, has raised $175 million in a new round to fund its efforts to build a Cisco competitor, the company said. The new round, co-led by March Capital and Saudi Arabia's sovereign wealth fund, Sanabil Investments, also attracted corporate investors including the venture capital arms of Saudi Telecom Company and Liberty Global.

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